Equifax Q2 revenue flat, EPS down 31%; cuts FY guidance on mortgage weakness

EQUIFAX INC

2023-Q2 EPS reported $2.03 revenue$2,619,600,000

Revenue $1.318B flat YoY; net income $138.3M (-31%); diluted EPS $1.12 (-31%).
Adjusted EPS $1.71 (-18%); adjusted EBITDA margin 32.7% vs 35.0%.
Workforce Solutions rev -4%; USIS +6%; International constant currency +7%.
Cloud spend reductions increased: $210M in 2023, $275M in 2024; full year FY23 rev guidance $5.30B, adj EPS $6.98.
Received shareholder approval for Boa Vista Serviços merger; closing expected early August.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EQUIFAX INC reported the quarter ended June 30, 2023 results: revenue $1,317.6 million, net income $138.3 million, EPS $1.12. Guidance lowered.

Period: the quarter ended June 30, 2023
Revenue: $1,317.6 million
Net income: $138.3 million
EPS: $1.12
Guidance: lowered
Result: reported results

Exact text from the filing

Mortgage Market ATLANTA, July 19, 2023 -- Equifax ® (NYSE: EFX) today announced financial results for the quarter ended June 30, 2023. • Second quarter 2023 revenue of $1.318 billion was flat and up 1% in constant currency against a mortgage market estimated to be down 37%. • Very good execution of our 2023 Cloud spending reduction plan. Implemented

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Source: SEC EDGAR

accession 0000033185-23-000029

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